New Online Game from Feed the Pig Targets Millennials Money Habits
By Jeanne Doran
July 20, 2017
Yesterday’s Tomorrow may sound like a soap opera, but it’s the moniker for a new digital game designed to help Millennials build their saving and improve their financial literacy skills.
Developed by the American Institute of CPAs and the Ad Council, Yesterday’s Tomorrow combines two of Millennials’ proven interests: saving money and online gaming. The goal is to show the importance of financial knowledge in a way that’s comfortable to a generation raised with video games.
“Young adults are playing online games more than ever, providing an unconventional approach to reach Millennials with money-saving resources,” Ad Council President and CEO Lisa Sherman said while introducing Yesterday’s Tomorrow.
A third of Millennials consider saving a priority, an AICPA survey found. Young adults cite maintaining an emergency fund and saving for retirement as key goals. They also cite buying a home, and paying for a wedding and regular vacations as lifestyle choices they want to save for. Yet poor spending habits along with generally low pay and lots of debt make it difficult.
Yesterday’s Tomorrow, free online, helps players understand the long-term impact of their choices. Players are faced with real life scenarios that force them to make financial decisions about everything from buying a car to getting married. They learn the long-term impact of these decisions as the game progresses.
This is the newest game in the Feed the Pig portfolio, which was started in 2006 to help young adults develop better money habits. It takes about 20 minutes to play. Last year, AICPA and Ad Council launched the Feed The Pig Challenge, inviting game designers to propose a digital game that encourages Millennials to make saving part of their daily lives. Yesterday’s Tomorrow, the winner, was presented to a panel of financial and gaming experts at the Tribeca Film Festival’s Games and Media Summit.
Millennials are a key target of the financial literacy movement. They are just beginning their careers and establishing financial habits. They are doing some things well—like saving in a 401(k) and keeping a diverse portfolio. But about half report not paying their full credit card balances each month or borrowing money from friends or family. Nearly half have less than $100 in their checking account; 30% pay late or overdraft fees, and 23% miss bill payments, AICPA found.
“The good news is that Millennials are internalizing the message that saving is important,” says the Ad Council’s Sherman. “With things like one-click payment, it’s become so easy to buy without really thinking about it.”